With the KOSPI index reaching an all-time high closing price, Gary, formerly of the group Leessang, shared some bittersweet feelings about his own situation.
On the 13th, Gary shared a screenshot of the day’s KOSPI index on his personal social media with the caption, “What have I been doing while this was happening? FOMOs.”
“FOMO” stands for the “Fear Of Missing Out,” a term describing the anxiety of being left behind or missing a trend. Recently, this feeling has been spreading among office workers who failed to make profits during the surging market. Gary’s comment is interpreted as a roundabout way of expressing his regret for missing out on the record-breaking rally.
On this day, the KOSPI closed at 7844.01, surging 200.86 points (2.63%) from the previous trading day and setting a new all-time closing record.
The market started on a shaky note, opening 1.69% lower at 7513.65 and even threatening the 7400 line, but it successfully rebounded after 10:19 AM and broke through the 7800 mark.
In terms of supply and demand, massive selling by foreigners clashed with aggressive buying by individual investors. While foreigners pressured the index by net selling 3.7583 trillion won, individuals and institutions drove the rally by purchasing 1.8869 trillion won and 1.6873 trillion won, respectively. The difference between the day’s high and low reached 453.11 points, marking the 4th largest intraday volatility in history.
Major leading stocks also followed a “weak start, strong finish” trend. SK Hynix rebounded after a low start, hitting a new high of 1.99 million won during the day before closing at 1.976 million won, up 7.68%. Samsung Electronics also fluctuated throughout the day, eventually closing at 284,000 won, up 1.79%. Other sectors like automotive and retail also saw gains, with Hyundai Motor rising 9.91% and Shinsegae rising 9.29%.
Meanwhile, unlike the KOSPI, the KOSDAQ index closed at 1176.93, down 0.20% from the previous session, pushed down by foreign selling.
